Exercise 9-7

Pharoah Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.

Item No.		Quantity			Cost per Unit			Cost to Replace			Estimated Selling Price			Cost of Completion and Disposal			Normal Profit
1320		1,300			$3.23			$3.03			$4.55			$0.35			$1.26
1333		1,000			2.73			2.32			3.54			0.51			0.51
1426		900			4.55			3.74			5.05			0.40			1.01
1437		1,100			3.64			3.13			3.23			0.25			0.91
1510		800			2.27			2.02			3.28			0.81			0.61
1522		600			3.03			2.73			3.84			0.40			0.51
1573		3,100			1.82			1.62			2.53			0.76			0.51
1626		1,100			4.75			5.25			6.06			0.51			1.01

From the information above, determine the amount of Pharoah Company inventory.

The amount of Pharoah Companys inventory